Member
Posted 07 June 2020 - 08:10 AM
Unless there is an extraordinary event - domestic or geopolitical - I expect a shallow pullback and then more attempts to push NQ to 10K and higher
SPX 3150 may be lowest the pullback goes....
But, I cannot see the market extending Friday's gains above SPX 3260/80
Member
Posted 07 June 2020 - 10:07 AM
Whole bunch of Ugly candles on Friday...some at what could turn out to be key resistance levels.
Here is a small sampiing.
Granted, these are laggards, but with them at potential resistance, while others are at potential double top areas, it makes sense to see how this area plays out before getting overcommitted to long side at this potentially important juncture.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 07 June 2020 - 10:08 AM
And last but not least, VIX with potential reversal type candle at the 200 day...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 07 June 2020 - 10:16 AM
Dow came right to the Maginot line on Friday....
If it gets a reaction down, and then pushes on through, as NDX and SPX have already done, then bears are likely going to strart hurting even more than they are now....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 07 June 2020 - 10:22 AM
And should the DOW push on through, then it would likely only be a matter of time until RUT took out 1600.
And IF that happened, hard to see how you could possibly be bearish....
But let's see what happens here the 200/900 backtest area first, after the recent potential death cross...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 08 June 2020 - 08:13 AM
Whew, thanks D lots of reading!! I was in selling at the open yesterday at 3207 to bring my average short to 3186 and bought it back during the night which I was surprised about and even made a point on it lol! Now this morning my average short is 3205. This is one I may actually hold this week, would like to get a bit more of a return we'll see, so much overboughtness, is that a word lol!! Love Larews put/call ratio chart! It was that chart that kept me going short in February!
Member
Posted 08 June 2020 - 08:34 AM
Slow in reporting but now average sell is 3207!!
Member
Posted 08 June 2020 - 09:05 AM
Profit stop 3206, we'll see.....
Member
Posted 08 June 2020 - 09:53 AM
Wow its coming back pulling my stop I'll just add to it if we go up here!!
Member
Posted 08 June 2020 - 11:59 AM
closed ES long @ 3205.5
+ 15.25
will reopen much lower
Still holding SPY Puts
NQ daytrading
somewhat indecisive market today but unless there is major even I expect the markets to grind higher or even explode higher for at least
another 2 to 4 %
but, it is way extended
Posted 05 June 2020 - 04:43 PM
65 SPY PUTS
ES LONG 3190.25
